Yeah, I get the idea of pre-planning, but not pre-paying, for the reasons cited. I think I heard a Dave Ramsey podcast where he analyzed the benefit of parking the money at a funeral home vs keeping the money in a mutual fund, where it would earn interest. I think if I were hell-bent on making it as easy as possible for my loved ones, I'd maybe have a designated interest-bearing account and give them access to that.
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I don’t know if those reciprocal agreements extend beyond U.S. borders.Originally Posted by frugal-one
Pre-paying is only important if those who remain have a hard time coming up with the cash.
I like this idea. But how would you give them access? Would you make it a joint account, so they had access right away?
If you made it POD, wouldn't they have to wait to get the money?
My dad has bank accounts with both my brothers and there is enough to bury them. He has no shared accounts with me, so I don't plan to pay for his burial, if I outlive him.
I assume that an estate of the deceased can pay for a funeral. But I’m not sure about that.
Also in cases Where we are talking about cremation, that’s not much money. The last time I checked with our local crematorium which is literally less than a mile from me, it was under $600. That includes transport of the body from a nearby hospital to the crematorium.
When my friend died 3 years ago it was 2k for the funeral home to pick her up and cremate her. 300 of that was her urn. She was in a small town and there was one funeral home. If I get to the point that I know I am dying then I will shop around for the cheaper price and pay it.
Because of this thread, I googled the town where I live and the town where my parents live. The very very cheapest cremation only options were 1595 where I live an 1295 where they live.
Since a POA ends on death, you would not be able to write a check from the account of the deceased, although I have heard of people billing the estate to do this.
That's why I like Catherines idea--it could conceivably be a lot more than 600 to get to the dead loved one's town and to cremate them, and if it was unexpected, then the poor offspring should not have to front the money, at least I would prefer mine not have to.
Tybee now I'm curious... What towns?
I called the crematorium directly, did not go through a funeral home to get this low cost. But this was a good 6-8 years ago. No one needs a special urn. I have a dozen Chinese pots Sitting around on shelves right now that could be put to that use. In the basement I have another dozen ceramic containers I use in Flower shows that could work.
There are other costs such as getting multiple copies of the death certificates, And if you’re not home provides that. But I wouldn’t imagine that is hard to do although who knows maybe something like $15 per certified copy from the county, you never know.
As for paying for funeral services from the deceased one’s estate, I just figured the executor could do that as executors have authority to pay for all appropriate and relevant costs of the estate.
This website has a link where you can find your state and look up direct cremation costs:
http://www.us-funerals.com/funeral-a...l#.XfqdrWRKiUl
Did you look at this site? For my state is just a listing of funeral homes. There is an ad showing $ 795 as a cost.
When I googled St. Louis cremation, hits werefrom $595 to $895. But there were some cautionary notes about up charges in this game, so buyer beware.
Last edited by iris lilies; 12-19-19 at 9:34am.
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